JBIC signs MOU with Overseas Private Investment Corporation of the U.S., Department of Foreign Affairs and Trade, and Export Finance and Insurance Corporation of Australia
Promoting Projects in Third Countries in Cooperation among Japan, the U.S. and Australia to Maintain and Promote a Free, Open, Prosperous and Inclusive Indo-Pacific Region, and to Improve Regional Connectivity

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1. The Japan Bank for International Cooperation (JBIC; Governor: Tadashi Maeda) signed today a Memorandum of Understanding (MOU) on business cooperation with Overseas Private Investment Corporation (OPIC; President and Chief Executive Officer: Ray W. Washburne) of the United States of America (the U.S.), and the Department of Foreign Affairs and Trade (DFAT) and the Export Finance and Insurance Corporation (Efic; CEO：Swati Dave).
     
2. OPIC is an agency of the Government of the U.S. established to mobilize and facilitate the investment of U.S. private capital in the economic and social development of emerging market countries, by offering financing and political risk insurance for certain projects. DFAT is a department of the Government of Australia that promotes trade and investment from Australia and oversees development financing for emerging market countries. Efic is an agency of the Government of Australia established to promote exports by Australian companies by offering loans and guarantees.
     
3. In October 2017, Japan and the U.S. held the Second Round of the Japan-U.S. Economic Dialogue. The two countries confirmed they will cooperate in the promotion of quality infrastructure through infrastructure development in third countries, and energy ties including liquified natural gas and energy infrastructures as specific areas for the Sectoral Cooperation. In line with this, in November 2017 JBIC and OPIC signed an MOU for joint projects involving U.S. and Japanese companies^*1 . In addition, at the June 2018 G7 (The Group of Seven) Summit hosted by Canada in Charlevoix, JBIC and OPIC along with the other G7 development finance institutions announced their participation in "The G7 2X Challenge: Financing for Women." ^*2 In addition, in August 2018 the governments of Japan, the U.S. and Australia confirmed at the Trilateral Strategic Dialogue and other talks their common goal to maintain and promote a free, open, prosperous and inclusive Indo-Pacific region, and to improve regional connectivity through infrastructure development in the region.
     
4. The MOU signed by the four parties aims to promote policies of the Japanese, U.S. and Australian governments. It is intended to drive individual projects on which Japanese, U.S. and Australian companies cooperate in the infrastructure, energy and natural resources sectors in third countries, with a focus on the Indo-Pacific region, through collaboration in financing.
     
5. As Japan's policy-based financial institution, JBIC will continue to actively support the creation and promotion of business opportunities for Japanese companies and contribute to the further development of economic relations between related countries, as well as tackle global issues such as regional connectivity and women's social empowerment, by collaborating closely with such overseas governments and policy-based financial institutions.
     

Note

1. *1 
    See Press Release on November 8, 2017.
2. *2 
    See Press Release on June 11, 2018.